67:297 Rights Issue; Rs 699,98,57,230 Issue Size: Penny Stock Below Rs 25; Vishwas Ambalal Patel Holds 10.98% Stake
The company has a market cap of Rs 5,980 crore and the stock is up by 57.5 per cent from its 52-week low of Rs 14.10 per share.
Infibeam Avenues Ltd has announced the terms for its upcoming Rights Issue, aiming to raise Rs 6,99,98,57,230 through the issuance of 69,99,85,723 partly paid-up Equity Shares. Each Rights Equity Share will have a face value of Re 1 and an issue price of Rs 10, which includes a premium of Rs 9. Shareholders will pay Rs 5 per share on application (Re 0.50 face value and Rs 4.50 premium), with the remaining Rs 5 to be called at a later date determined by the Board or Rights Issue Committee. The Record Date for determining eligible shareholders is June 26, 2025, and the Rights Entitlement Ratio has been set at 67 Rights Equity Shares for every 267 fully paid-up Equity Shares held.
The Rights Issue is scheduled to open on Thursday, July 03, 2025, and close on Friday, July 11, 2025. The last date for on-market renunciation of Rights Entitlements is Monday, July 07, 2025, and for off-market renunciation, it's Thursday, July 10, 2025. Following the full subscription and receipt of all call monies, the total outstanding equity shares of Infibeam Avenues are projected to increase from 2,78,94,95,346 to 3,48,94,81,069. This Rights Issue is designed to raise substantial capital for the company, contributing to its financial growth and strategic objectives.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
Infibeam Avenues Ltd, incorporated in 2017, is a diversified technology company specialising in software development, web development, e-commerce, and maintenance services, with a strong focus on payment gateway solutions. The company holds a significant position in India's digital payments sector, commanding an 8% market share and ranking among the top three B2B payment gateways. Furthermore, Infibeam Avenues has rapidly established itself as a key player in the UAE, becoming the second-largest non-bank private payment company within just 18 months of entering the market.
A public shareholder, Vishwas Ambalal Patel, holds a 10.98 per cent stake in the company as of March 2025. The company has a market cap of Rs 5,980 crore and the stock is up by 57.5 per cent from its 52-week low of Rs 14.10 per share.
Disclaimer: The article is for informational purposes only and not investment advice.